Hess (HES) Stock Rating Upgraded by Credit Suisse Group

Credit Suisse Group upgraded shares of Hess (NYSE:HES) from an underperform rating to a neutral rating in a report issued on Monday morning, MarketBeat Ratings reports. They currently have $42.00 price objective on the oil and gas producer’s stock.

Other equities research analysts have also issued research reports about the company. Scotiabank set a $50.00 price target on Hess and gave the stock a buy rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Hess from a hold rating to a buy rating and set a $53.00 price target on the stock in a research note on Thursday, November 9th. Morgan Stanley boosted their price target on Hess from $49.00 to $57.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. BMO Capital Markets restated a hold rating and set a $50.00 price target on shares of Hess in a research note on Thursday, January 11th. Finally, Barclays restated a hold rating and set a $49.00 price target on shares of Hess in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $52.52.

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Shares of Hess (HES) opened at $45.37 on Monday. Hess has a 52 week low of $37.25 and a 52 week high of $55.48. The firm has a market capitalization of $14,420.00, a PE ratio of -3.46 and a beta of 1.58. The company has a current ratio of 2.53, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52.

Hess (NYSE:HES) last issued its quarterly earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.91) by ($0.10). Hess had a negative return on equity of 9.82% and a negative net margin of 74.55%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted ($1.01) EPS. Hess’s revenue was down 6.5% on a year-over-year basis. research analysts forecast that Hess will post -2.17 EPS for the current fiscal year.

In related news, insider Michael R. Turner sold 1,914 shares of Hess stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.43, for a total transaction of $85,039.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Rielly sold 3,382 shares of Hess stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $44.43, for a total value of $150,262.26. The disclosure for this sale can be found here. Insiders have sold 116,347 shares of company stock valued at $5,157,584 in the last ninety days. Corporate insiders own 11.80% of the company’s stock.

A number of large investors have recently made changes to their positions in HES. Elephas Investment Management Ltd acquired a new position in Hess in the fourth quarter valued at approximately $54,572,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in Hess by 13.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 9,206,402 shares of the oil and gas producer’s stock valued at $431,688,000 after acquiring an additional 1,123,000 shares during the period. Impala Asset Management LLC lifted its holdings in Hess by 62.9% in the fourth quarter. Impala Asset Management LLC now owns 2,295,452 shares of the oil and gas producer’s stock valued at $108,965,000 after acquiring an additional 886,096 shares during the period. Hermes Investment Management Ltd. lifted its holdings in Hess by 57.0% in the third quarter. Hermes Investment Management Ltd. now owns 1,730,153 shares of the oil and gas producer’s stock valued at $81,127,000 after acquiring an additional 627,795 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Hess by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 5,213,975 shares of the oil and gas producer’s stock valued at $244,483,000 after acquiring an additional 598,576 shares during the period. 89.83% of the stock is owned by institutional investors.

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About Hess

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.